|Starfield Resources Inc. - 2002 Exploration Program Commences (enews) |
Ferguson Lake Nickel-Copper-Cobalt-Platinum-Palladium Project, Nunavut, Canada #SRU-02-02 SRU.CDNX SRFDF - OTC BB
Starfield Resources Inc. has commenced mobilization for the 2002 exploration drilling program at the Ferguson Lake project, with drill crews to arrive during the first week of March. Since acquiring a 100% interest in the Ferguson Lake property in 1999, Starfield has expended over $14,000,000 on exploration including geophysical surveys, geological mapping and over 43,000 meters of diamond drilling. Together with some 30,000 meters of drilling done by Inco during the 1950's, a massive sulphide resource of 60.1 million tonnes is currently defined with only 25% of the known target explored.
The 2002 drilling program is designed as a three-phase project. Initial drilling has been planned to expand a high grade zone (0.35 meters grading 103 g/t Pd (3.29 oz/t), 26.7 g/t Pt (0.85 oz/t) and 2.74 g/t Rh (0.09 oz/t)) discovered in the last and furthest west hole, FL01-101, completed in 2001 on Section 6800 West. The new Platinum-Palladium-Rhodium mineralization is located in a discrete sulphide-poor horizon apparently parallel to the main massive sulphide system and possibly located near a mineralizing source area.
Drilling is also planned during this first phase of exploration to test deep targets recently indicated by new geophysical survey interpretation methods ("inverse magnetic method") to occur at depth below the known massive sulphide system. Inverse magnetic modelling has defined a strong anomaly in the area of Section 5720 where Hole FL00-67 will be extended an additional 500+ meters, the objective being to test for the lower limb or hinge of this folded system.
The 2002 exploration program is also designed to outline and define higher grade bodies of Copper-Nickel-Palladium-Platinum partially located within the already defined 60.1 million tonne massive sulphide resource; and to further expand the base resource by tracing the West Zone mineralization, identified by the strongest known UTEM and magnetic geophysical signals on the property, for an additional 2 kilometers to Section 8800 West from Section 6800 West to 8800 West. On behalf of the Board of Directors
Glen Macdonald, Director
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